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Angola protests to OPEC over its lower oil output quota

Monday, 04 December 2023 | 17:00

Angola has sent a note of protest to OPEC over a decision by the wider OPEC+ oil producer group to reduce the country’s oil output quota for 2024, the office of Angola’s oil minister said in a statement.

OPEC+ lowered Angola’s oil output target for 2024 at a meeting on Thursday to 1.11 million barrels per day. This followed a review by outside analysts to verify production figures for Nigeria, Angola and Congo.

“Because the decision was not taken unanimously and was against Angola’s position, during the meeting we reiterated our proposal for a quota of 1,180,000 barrels of crude oil per day for 2024 and afterwards a note of protest was sent to the OPEC Secretariat,” the statement said.

OPEC did not immediately respond to a request for comment.

Disagreements over African output quotas was cited by OPEC+ sources as a reason why it postponed a meeting that was originally scheduled for Nov. 26 until Thursday.

Angola’s OPEC Governor Estevao Pedro was quoted on Thursday by Bloomberg as saying the country was unhappy with its 2024 target and did not plan to stick to it.

He did not respond to a Reuters request for comment on Friday.
Source: Reuters (Reporting by Wendell Roelf, writing and additonal reporting by Alex Lawler, editing by Kirsten Donovan)

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